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Revenue Recognition
 3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company generates revenue from the delivery of processing, service and product solutions. Revenue is measured based on consideration specified in a contract with a customer, and excludes any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer which may be at a point in time or over time.
Disaggregation of Revenue
The Company’s operations are comprised of the Merchant Acceptance (“Acceptance”) segment, the Financial Technology (“Fintech”) segment and the Payments and Network (“Payments”) segment. Additional information regarding the Company’s business segments is included in Note 20. The tables below present the Company’s revenue disaggregated by type of revenue, including a reconciliation with its reportable segments. The majority of the Company’s revenue is earned domestically, with revenue generated outside the United States comprising approximately 13% of total revenue in each of the three months ended March 31, 2021 and 2020.
(In millions)Reportable Segments
Three Months Ended March 31, 2021 AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$1,178 $378 $1,077 $12 $2,645 
Hardware, print and card production190 11 232 — 433 
Professional services9 111 63 — 183 
Software maintenance— 139 2 — 141 
License and termination fees10 38 13 — 61 
Output solutions postage— — — 205 205 
Other10 59 18 — 87 
Total Revenue$1,397 $736 $1,405 $217 $3,755 
(In millions)Reportable Segments
Three Months Ended March 31, 2020AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$1,183 $351 $1,090 $25 $2,649 
Hardware, print and card production193 12 192 — 397 
Professional services3 112 57 1 173 
Software maintenance— 141 1 2 144 
License and termination fees6 46 22 — 74 
Output solutions postage— — — 236 236 
Other16 56 24 — 96 
Total Revenue$1,401 $718 $1,386 $264 $3,769 
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers:
(In millions)March 31, 2021December 31, 2020
Contract assets$479 $433 
Contract liabilities745 733 
Contract assets, reported within other long-term assets in the consolidated balance sheets, primarily result from revenue being recognized where payment is contingent upon the transfer of services to a customer over the contractual period. Contract liabilities primarily relate to advance consideration received from customers (deferred revenue) for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. The Company recognized $192 million of revenue during the three months ended March 31, 2021 that was included in the contract liability balance at the beginning of the period.
Transaction Price Allocated to Remaining Performance Obligations
The following table includes estimated processing, services and product revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at March 31, 2021:
(In millions)
Year Ending December 31,
Remainder of 2021$1,505 
20221,750 
20231,449 
20241,076 
Thereafter1,936 

The Company applies the optional exemption under Accounting Standards Codification (“ASC”) Topic 606 (“ASC 606”) and does not disclose information about remaining performance obligations for account- and transaction-based processing fees that qualify for recognition under the as-invoiced practical expedient. These multi-year contracts contain variable consideration for stand-ready performance obligations for which the exact quantity and mix of transactions to be processed are contingent upon the customer’s request. The Company also applies the optional exemptions under ASC 606 and does not disclose information for variable consideration that is a sales-based or usage-based royalty promised in exchange for a license of intellectual property or that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service in a series. The amounts disclosed above as remaining performance obligations consist primarily of fixed or monthly minimum processing fees and maintenance fees under contracts with an original expected duration of greater than one year.